News
The composite Shanghai Containerized Freight Index (SCFI) came to 1,592.67 points in Week 30, down 3% from the previous week as spot rates for container exports from Shanghai remained weak on the U.S. trade and elsewhere. The index has continued to fall for the seventh consecutive week.
On the east-west trade, spot rates for container exports from Shanghai went up 0.5% to $2,090 per TEU to Europe, down 4.4% to $2,418 pe TEU to the Mediterranean, down 3.5% to $2,067 per FEU to the U.S. West Coast and down 6.5% to $3,378 per FEU to the U.S. East Coast.
On the north-south routes, ex-Shanghai rates dropped 12.8% to $1,152 per TEU to the Middle East Gulf, 7.8% to $5,188 per TEU to South America and 0.9% to $4,321 per TEU to East and West Africa. In contrast, they grew 2.8% to $1,071 per TEU to Australia and New Zealand and 3.9% to $2,961 per TEU to Southern Africa.
In the intra-Asia waters, Shanghai’s exports were moved at $429 per TEU to Southeast Asia, down 2.9%; $135 per TEU to South Korea, down 0.7%; $315 per TEU to Kansai, Japan, up 0.6%; and $324 per TEU to Kanto, Japan, up 0.3%.
The SCFI represents spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), which was set at a baseline of the same value on Oct. 16, 2009.
